Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against MEXC−0.111%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.919%+$92 · spread now −0.111%, 7d avg +0.051%

Together, before fees+0.921%+$92 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.163% cheaper against MEXC than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.051%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.001% in total (about 0.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7176	0.0100	pay 0.0050% / 4h	1h 53m	$17.3M	$4.1M	100x
Short	ApeX Omni VIRTUALUSDT	0.7168	−0.0106	pay 0.0013% / 1h	53m 33s	$40K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.111%Rate

Funding earned: −$43.33
Price spread: −0.111% → +0.051%: −$16.26
Slippage, 4 orders: −$26.27
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$95.86
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; ApeX Omni: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy MEXC live order book, 5 min ago	0.70 bp	3.0 bp −$3	9.3 bp −$93	83.3 bp −$8,327	266.1 bp −$133.0K
Sell ApeX Omni live order book, 8 min ago	6.94 bp	15.1 bp −$15	112.9 bp −$1,129	doesn't fit	doesn't fit

VIRTUAL on 32 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit VIRTUAL_USDC-PERPETUAL	−0.0168%	1h	0.7181	+0.070%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7176	−0.003%	$24	—	10x	as long as short
ApeX Omni VIRTUALUSDTshort	−0.0106%	1h	0.7168	−0.111%	$40K	$240K	50x
Lighter VIRTUAL	−0.0096%	1h	0.7174	−0.026%	$326K	$413K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0032%	1h	0.7179	+0.042%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7180	+0.053%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7200	+0.341%	$11K	$37K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.822%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7181	+0.070%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7186	+0.141%	$8.8M	$4.1M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7183	+0.091%	$97K	$291K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7179	+0.042%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7181	+0.070%	$16.5M	$40.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7179	+0.042%	$16.6M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7181	+0.070%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7179	+0.042%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7176	long leg	$17.3M	$4.1M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7176	0.000%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7183	+0.098%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7180	+0.056%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7174	−0.028%	$239K	$160K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7220	+0.617%	$535K	$908K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7184	+0.113%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7189	+0.178%	$637K	$870K	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7184	+0.113%	$52K	$999K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7183	+0.098%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7182	+0.084%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7177	+0.018%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7180	+0.061%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7178	+0.029%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7209	+0.460%	$188K	$83K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0910%	1h	0.7191	+0.204%	$597K	$688K	50x	as long as short